Koenig Solutions becomes part employee owned

Koenig Solutions announced that it would now be part employee owned after delivering the first grant of employee stock options to 11 employe.

''During the exercise, 5.25 per cent of the current total equity of the company were distributed," the company said in statement. Shares will be vested at the rate of 25 per cent every year over the next three years, starting April 2013.

In case IPO is not possible in three years, the company will guarantee repurchase of exercised shares at a 'notional' market value of the shares, it said.

Koenig has grown on the back of a unique education tourism business model, to register revenues of close to $10 million in the last fiscal year. The company offers more than 100 globally recognised IT certification courses following the internationally acknowledged 'boot-camp' model. It has six strategically located training centres in Delhi, Simla, Dehradhun, Goa, Bangalore and Dubai.

The Koenig course fee is inclusive of international travel costs, accommodation, meals, local transport and sightseeing.

In the past 12 years, Koenig has already trained and certified more than 20,000 students from 50 countries and today they train more than 300 students per month from these countries. They plan to end the current fiscal year with about 1,000 students per month.

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